Portfolio History

The success of QGEP is the result of the Company’s strategic positioning since the first movements of opening the Brazilian Oil & Gas market to the private sector. Its portfolio has grown significantly since its formation in the Round Zero in 1998, having played an active role in the bidding rounds of the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP).

The timeline below summarizes the history of the Company's portfolio:

The first exploratory wellof which Queiroz Galvão participated as a consortium member, was drilled in 2000 and led to the discovery of the Manati field, currently one of the largest producing exploratory non-associated gas fields in Brazil. Its first gas happened in 2007 and the Field is now the primary source of QGEP’s revenue.

During 2003, Queiroz Galvão had its first experience as a producer in Coral Field in the Santos Basin, which produced light oil until  2009. 

In line with its growth strategy, 2011 saw QGEP take an important step by acquiring stakes in two capital assets: blocks BM-S-8 and BS-4, both in the pre-salt exclusion area of the Santos Basin. In the first one, the Company became part of the transformational discovery of Carcará, one of the largest oil columns of the pre-salt region. At BS-4, where QGEP is operator of the Block, the Company estimates the first oil of Early Production System for the Atlanta field in 2017.

In 2013, with the successful participation in the ANP's 11th Bidding Round, QGEP acquired concession rights in 8 blocks, 5 of which are the operator. In addition to diversifying and balancing the portfolio, new partnerships with international and regional companies were established. The active participation in the auction broadened the scope of QGEP’s exploratory activities.

In early 2015, as a result of a technical and economical assessment of the asset, QGEP it has allowed its farm-in agreement at the BM-C-27 Concession to expire. QGEP signed the farm-in agreement with Petrobras for the purchase of a 30% participating interest in the production and exploration rights of the asset located in the Santos Basin

In the ANP's 13th Bidding Round, held on October 2015, QGEP acquired concession and operatorship rights in two offshore exploratory blocks located in the Sergipe-Alagoas Basin. This is a well-established Brazilian producing basin with excellent quality discoveries in evaluation stage. The active management of the Company's portfolio led to the acquisition of these blocks, which will further enhance QGEP's exploratory portfolio of projects.

In the end of 2015, QGEP announced the relinquishment of Block BM-J-2 to the ANP, after having fulfilled all the commitments undertaken with the ANP. The decision to relinquish the Block was in line with the Company’s strategy of continuing to dynamically manage its asset portfolio, and was supported by the results of technical and economic analyses, which indicated low quality reservoirs and sub-commercial volumes, combined with the environmental challenges of operating in this area.

 

The capital assets are listed in the table below:

Block/
Concession
Field/
Prospect
Phase

QGEP Share

Operator Partners Resources Category Fluid
Foz do Amazonas Basin
FZA-M-90 - Exp. 100% QGEP

-

Prospective Oil
Pará-Maranhão Basin          
PAMA-M-265 - Exp. 100% QGEP - Prospective Oil
PAMA-M-337 -

Exp.

100% QGEP - Prospective Oil
Ceará Basin    
CE-M-661 -

Exp.

25% Total

Total 45%

Premier Oil 30%

Prospective Oil
Pernambuco-Paraíba Basin        
PEPB-M-894 -

Exp.

30% QGEP Petra Energia 70% Prospective Oil
PEPB-M-896 -

Exp.

30% QGEP Petra Energia 70% Prospective Oil
Camamu-Almada Basin          

CAL-M-372 

CAM#01

Exp.

20% Petrobras

Petrobras 60%
EP Energy 20%

Prospective Oil
BCAM-40 Camarão Norte

Develop.

45% Petrobras

Petrobras 35%
Geopark 10%
Brasoil 10%

Contingent Gas
BCAM-40 Manati

Prod.

45% Petrobras

Petrobras 35%
Geopark 10%
Brasoil 10%

Reserves Gas
Espírito Santo Basin    
ES-M-598 -

Exp.

20% Statoil

Statoil 40%
Petrobras 40%

Prospective Oil
ES-M-673 -

Exp.

20% Statoil

Statoil 40%
Petrobras 40%

Prospective Oil
Santos Basin    
BM-S-8 Carcará

Exp.

10% Statoil

Statoil 66%
Petrogal 14%
Barra Energia 10% 

Contingent/ Prospective Oil
BM-S-8 Guanxuma

Exp.

10% Statoil Statoil 66%
Petrogal 14%
Barra Energia 10%
Prospective Oil
BS-4 Atlanta

Develop.

30% QGEP

OGX 40%
Barra Energia 30%

Reserves Oil
BS-4 Oliva

Develop.

30% QGEP OGX 40%
Barra Energia 30%
Contingent Oil
BS-4 Piapara

Exp.

30% QGEP OGX 40%
Barra Energia 30%
Prospective Oil
Sergipe-Alagoas Basin    
SEAL-M-351 -

Exp.

100% QGEP

-

Prospective Oil
SEAL-M-428 -

Exp.

100% Petrobras - Prospective Oil

 

Last updated on 2017-01-25T10:41:30

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